TikTok has seen exponential growth since its launch in 2016. In 2023, the platform has more than 1,081 million monthly active users (MAUs) worldwide, according to Prime Web data. This accelerated growth has made TikTok one of the most popular social media platforms worldwide, as Kolsquare points out.
In March 2023, TikTok reported that the United States led the way in TikTok usage, with nearly 150 million users, according to research from Tridens Technology. This represents a growth of 50% compared to the reported number of 100 million MAUs in August 2020. In Mexico, for example, TikTok is estimated to have experienced annual growth of 25% (+11 million users).
One of the most fascinating aspects of TikTok is its ability to enable its users to make money. Although there is no exact number to determine the income a content creator can make from TikTok, some digital marketing experts say a person could earn close to $100 for every 10,000 people who follow their account.
With that in mind, a TikToker could earn $10 per 1,000 followers.
TikTok content creators can make money using the following monetization programs:
- First, TikTok allows users to receive virtual “coins” from their followers during live streams, which they can then redeem for real money. In addition, many users also earn money through sponsorship deals and partnerships with brands.
- Second, TikTok also offers the “TikTok Creator Fund,” a program that pays users for their videos. The fund originally launched in August 2020 with $200 million and has grown significantly since then.
- Finally, many TikTok users also make money by selling products or goods directly to their followers. This can include anything from t-shirts and hats to e-books and online courses.